EURUSD on Wednesday rose 0.19% to 1.07752. What we know.

EURUSD Analysis

Performance after Wednesday
Wednesday0.19%20.7 Pips
Week to-date-0.09%-9.7 Pips
February-0.4%-42.8 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇩🇪 Germany Industrial Production n.seasonal adjustment. w.d.a. (12-mth) in December rose to -3% compared to previous figure -4.3% (revised from -4.8%)
🇪🇺 Euro Area Retail Trade Turnover (12-mth) in December dropped to -0.8% compared to previous figure -0.4, revised from -1.1% in November Source: Eurostat
🇩🇪 Germany Factory Orders n.seasonal adjustment. (12-mth) in December rose to 2.7% compared to previous figure -4.7% (revised from -4.4%)

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What can we expect from EURUSD today?

EURUSD on Wednesday rose 0.19% to 1.07752. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for EURUSD looks bullish as the pair ended higher after Wednesday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 1.07876 with break above could target R2 at 1.08001 or figure level area. While towards the downside, we are looking at daily low of 1.07555 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.07840 may suggest continuation after recent positive movement.

For the week to-date, take note that EURUSD is bearish as the pair posted lower by -0.09%.

Key levels to watch out:

Daily Pivot1.07716

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